This is a drasticly edited version released in 1939 as propaganda supporting American isolationism. The surviving footage is worth watching as an interesting curiosity, but not as a coherent story.
FROM IMDB: This was re-released in 1939 with a new introduction by Mitchell Leichter commenting upon America's involvement in the then imminent forthcoming World War; it was edited down to just a little more than half of its original length, eliminating most of the silent sequences that involved dialogue, and thereby the need for inter-titles, but also most of the original story structure, so that what's left is more or less incomprehensible. The only real dialogue that's heard is in and around a couple songs by Alma Rubens. Sadly, this is the only version that seems to have survived today, at least within the reaches of public availability.